My relation with money

It was always torrid- It took time to realise its importance - to enjoy life you need money, otherwise you could harp on hollow talks about detachment– to let go of materialistic things in life– and embrace spiritualism– you talk about such things only when you do not have enough money in your account. Initially first i used to spend money– and then whatever at month end ( nothing was left) i tried to save– i used to look at amusement at my friends who started saving –from their first pay and very soon they had bought immovable properties– things which bought happiness in later life and not – one night fun. My thoughts were that these talks of saving money were frivolous –there is only one life– enjoy it– we can save later when responsibilities come in– but I was wrong . Everything revolves around money. You can only enjoy your hobbies, your free time - once you stop worrying about your nest. So it was eating, drinking myself silly, splurging on fine dining and fine accessories– at the end of day I was left feeling hollow and unsatisfied–whenever I needed emergency money I always ran short of funds. Start planning early. I did not– by the time I realised the importance of saving money- responsibilities had piled up – for buying a home , car, child education– needed a loan– if I had prudently saved from my initial days of earning -this would not have been the case. During our formative years– it was all debt instruments for us–post office, PPF and bank FD – safe and returns were decent-equity, mutual funds were blasphemy– not to be touched with barge pole as advised by our parents as it was akin to gambling- With no Demat account – everything was physical. If you wanted to invest in the stock market it was a long drawn affair –you had to fill up the form physically– post it and wait. Then the financial tech revolution started– and the financial world changed for better Then the lure of stock market came and initially i burnt my fingers– one tip from the TV , one from the neighbour, one at the evening party and i used to run and buy the stock without any research– initially lot of heartburn followed - lot of losses –and then i started learning from mistakes– there is no overnight potion to make you rich , patience, research, time and prudence, persistence– diversification, there is no shortcut. Try investing a part of your salary – maybe a small part– start in index mutual funds as SIP , don't try to time the market– have an emergency liquid fund for 06 months– and as your income starts to increase – increase your risk and diversification. Keep a long term perspective–3 years. Ans as you mature - keep cash flow assets– real estate, and pick up advanced investing methods– like hedging. etc Treat your credit card like a debit card—assume the money is leaving your bank account when you swipe it. Pay it off entirely every month. If an investment or financial opportunity seems too good to be true, assume that it probably is a fraud– stay away. Remember: There’s no such thing as a free lunch. Be frugal with yourself and generous with others. Create an automated direct deposit for a small amount of money into an investment account every month. Never look at the account. Don't pay any attention to it. At the end of the day it is better sitting and crying in a Merc than in a rickshaw. As fintechs evolved – now we have so many avenues to invest-at the click of a mouse - national to global, equity and debt– saving now is an easy and good habit– all frictions removed. And if you are persistent and have patience, money compounds–and suddenly you find money working for you . The earlier you develop a good relationship with money– the better it is. At the same time– do not hesitate or think twice on spending on good diet, health, books and Self improvement- these investments never go to waste - these investments compound. My only regret is that I did not listen to the wise advice of my elders initially –the saving and spending habits neurons get wired at a very young age– once wired it is very difficult to change. A book i would recommend every youngster to read The richest man in babylon Pay yourself first. This is the most important lesson of the book, and it is one that is often overlooked. When you earn money, set aside a portion of it for yourself before you pay any bills or expenses. This is called "paying yourself first." It is the best way to save money and build wealth. Live within your means. This means spending less money than you earn. It is important to track your income and expenses so that you can see where your money is going. Once you know where your money is going, you can make changes to your spending habits so that you can live within your means. Make your money work for you. Once you have saved some money, you can start to invest it. Investing is a way to make your money grow over time. There are many different types of investments available, so it is important to do your research and choose investments that are right for you. Protect your wealth. Once you have built some wealth, it is important to protect it. This means having a plan in place for unexpected expenses, such as job loss or medical bills. It also means having insurance to protect your assets. Invest in yourself. The best investment you can make is in yourself. Educate yourself and develop your skills so that you can earn more money. Surround yourself with winners. Surround yourself with people who are positive and successful. Be patient. It takes time to build wealth. Don't get discouraged if you don't see results immediately. Just keep following the principles above and you will eventually reach your financial goals. Some specific financial books that are popular among beginners include: 1️⃣ The psychology of money– Morgan Housel • Everything in life compounds • Invest in assets • Always use a margin of safety 2️⃣ I will teach you to be rich– Ramit Sethi • Create great money habits • Spend what is left after saving • Set clear financial goals 3️⃣ The Millionaire Fastlane– MJ Demarco • Control your time • Real wealth is created by solving problems • Have multiple income streams. 4️⃣ Think and Grow Rich– Napolean Hill • Diversify your investments • Surround yourself with smart people • Invest in yourself 5️⃣ Rich Dad, Poor Dad– Robert Y. Kiyosaki • Buy income-generating assets • Financial education is key • Work for money. Then let money work for you 6️⃣ Your money or your life- Vicky Robin • Simplify your life • Focus on achieving financial independence • Track your monthly expenses

How I use my apps

Before apps came in –marketing Before the era of mobile applications, I used to thoroughly enjoy going to the bustling vegetable market in my childhood days. It was a delightful experience to grab a market bag, particularly on holidays, and immerse myself in the vibrant atmosphere. Despite the somewhat grim conditions, with the presence of cows nudging around and the occasional threat of being bitten by stray dogs or gored by bulls, I relished the opportunity to interact with the vendors and engage in spirited haggling. Even though I would occasionally fall victim to their tricks, I would return home feeling content. Afterward, I would dedicate both time and effort to thoroughly cleanse myself and the fresh produce from the market, ensuring everything was ready for storage. This routine always left me with a sense of satisfaction and fulfilment. As Tech stepped in marketing became a breeze Technology became a boon as we grew up and faced time constraints. Going to the market and finding parking became a hassle, wasting valuable time and effort. Then technology intervened. When COVID struck, it was technology and apps that kept us safe. Initially, there was resistance to using these apps, but over time, things became smoother. Friction reduced, from adding items to our cart to making a single click payment. Now, it has become an essential habit. We can order anything, at any time, at a discounted price, all from the comfort of our homes. These orders are delivered seamlessly while we continue with our daily routines. Personally, I appreciate the feature that allows us to track the rider on their way to the delivery point. Grocery advantage The vegetables came fresh, washed, packed– the fish and meat came- fresh, cleaned and hygienically packed- you just had to put it in the refrigerator.If it was not available on Swiggy, we switched to Blinkit, if not Bigbasket,Licious, Fresh We chose only the things we needed– the tendency to heap up your electronic cart with things which were not needed - just reduced unnecessary spending– . It saved time, it saved petrol, it saved parking headache, – and we got things safely delivered at any time of the day- the apps evolved– the delivery time got reduced to minutes from days – it was a win-win situation for all. It has been ages since I have visited a vegetable or fish market– Banking and investing Another thing which these apps made easy– investing– all forms -from gold, stock market, FD , crypto to other forms of alternative investments was available at your fingertips– national to international Going to the bank with a cheque in hand to deposit or transfer money is a passe–although a favourite pastime for retired people to get away from the confines of home as a little breather– meet soulmates and enjoy a cup of coffee. Otherwise with enhanced cybersecurity every transaction leaves an electronic trail– they are safe now . In fact the neo banks even do not exist physically – everything is in the cloud. Reading books and newspapers Although I still like the feel of newspapers – the newspaper apps - have made international papers to national papers reading pleasure– the apps are friendly and a pleasure to use – and the news gets updated throughout the day. Kindle was a boon– you could carry a large number of books anywhere delivered instantly into your library, you could add a bookmark–a dictionary to guide you instantly, and the cost of the books were also at a much reduced price.You could also read at night without disturbing the sleep of your spouse-as no bedside lamp was required- You can now listen to them on your Audible app-as it lulled you to sleep– when you missed listening to a paragraph– you knew it was time to doze away– and dream of the sweet stories of the book you were listening to. Music The apps have revolutionised how you listen to your favourite songs, podcasts, your favourite songs, artists at your fingertips, the whole rigmarole of tapes and CD ,s are out–listen anywhere and anytime, shuffle, build a playlist. Spotify is my favourite– and now they introduced something called smart shuffle– they automatically play your favourite next song Conferences COVID was an eyeopener– you had to have the right app to gain knowledge, from anywhere, anytime– there was no need for a massive spend on physical conferences. It was a win-win situation for all. You need one of the webcast apps and you are ready to go. AI integration This has come as a big boon – if you know how to integrate it with your apps- but the real good ones are beyond a paywall– and now you have to be a master at prompts to get the best out of it.

My journey with pen

I had a fetish for pens– fountain pens . ``` During our childhood, the school emphasised the importance of beginning our writing journey with a fountain pen. They believed that using this instrument during our formative years would help us develop a clear and proper handwriting that would last a lifetime. However, despite practising cursive writing diligently, I seemed to be cursed when it came to achieving good handwriting. ``` But during the journey, I actually started liking fountain pens. Back in our childhood days, there were no fancy gadgets to fill the ink. You had to tilt the bottle and fill up the bottom half. And, inevitably, by the time you were done, your hands would be covered in blue or black ink from Camlin. We were prohibited from using ballpoint pens because it was believed they would negatively affect our handwriting. However, I have discovered that this belief was actually a myth. Ballpoint pens are neat, offer much better handwriting, and can be preserved. On the other hand, fountain pens have become more of an accessory used to show off, but they produce the worst handwriting. Of course, the quality of the handwriting also depends on the person using the pen. During childhood, ink pens had another use. If you had a fight or didn't like a teacher, you could sneak up on them and just one swipe of the fountain pen was enough for revenge. The best part was that there was no evidence of the crime, allowing you to leave the scene without being caught. Nowadays your proficiency depends upon your proficiency on qwerty keyboard - digital signatures– etc– a stylet and a ruffpad,even the writers type their stories on the computer– it is easy to make amends – but as a doctor – i still have to scribble prescriptions- and ball point pen is my favourite– the ink is permanent- does not smudge – remains legible for a long time– the pen flows–a fountain pen is a nuisance– the writing slows down- the quality goes down- it smudges –it is hard to decipher when the patient comes to you on next visit. But holy grail of the writing world – absurdly priced - expensively advertised - an aura has been built around the uniqueness of the fountain pen and the ink–around fountain pen– a mont Blanc , a parker or a waterman, a lamy – in fact i see it as a mark of narcissism Nowadays, proficiency on the QWERTY keyboard, digital signatures, and other technologies such as stylets and ruffpads are crucial. Even writers now type their stories on computers, finding it easier to make corrections. However, as a doctor, I still find myself scribbling prescriptions. My preferred writing tool is a ballpoint pen, as the ink is permanent, doesn't smudge, and remains legible for a long time. The pen flows smoothly, unlike fountain pens that tend to slow down the writing process and decrease quality. Fountain pens also have a tendency to smudge, making it difficult to decipher when the patient comes for their next visit. Despite these drawbacks, fountain pens such as Mont Blanc, Parker, Waterman, and Lamy are seen as the holy grail of the writing world, with exorbitant prices and extensive advertising campaigns building an aura around their uniqueness. Personally, I view displaying the signature cap of these pens peeking out of one's coat pocket as a display of narcissism. when you exhibit the signature cap of the pen peeping out of your coat pocket. Ink - we were supposed to use blue-black ink, which I find to be the most horrible colour. Personally, I prefer black ink, but it carries with it a certain ominous connotation.And my favourite was Camlin– now I have switched to Parker. However, the pen, regardless of its form, will always remain an integral part of civilization. Despite the rise of keyboards and audio-to-text applications, from ballpoint pens to styluses, I still enjoy the tactile experience of holding a fountain pen in my hand. It makes me feel good, and I will continue to do so indefinitely.